Club membership sale
This query is : Resolved
18 July 2013
Hi All
one of my client has sold his club membership. whether this is taxable under the head Capital Gain.
please refer relevat case laws.
Please reply ASAP. its urgent
Thanks
one of my client has sold his club membership. whether this is taxable under the head Capital Gain.
please refer relevat case laws.
Please reply ASAP. its urgent
Thanks
18 July 2013
Yes owing a club membership is Capital Asset under section 2(14) and any gain (if any) will also covered under section 45
Yes owing a club membership is Capital Asset under section 2(14) and any gain (if any) will also covered under section 45
18 July 2013
since it is a case of transfer of capital asset it will be chg to capital gain.
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